ITEM 7.01 REGULATION FD DISCLOSURE
PVH Corp. (the "Company") issued a press release on January 9, 2020 to update
its earnings outlook for the fourth quarter and full year 2019. The update was
made to reflect its announcement of the sale of its Speedo North America
business to Pentland Group PLC, as discussed in Item 8.01 (Other Events) below.
A copy of this press release is attached as Exhibit 99.1 to this report.
The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934
or otherwise subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933,
regardless of any general incorporation language in such filing.
ITEM 8.01 OTHER EVENTS
The Company issued a press release on January 9, 2020 to announce that it has
entered into a definitive agreement to sell its Speedo North America business to
Pentland Group PLC, parent company of Speedo International Limited, for $170
million in cash, subject to a working capital adjustment. The Company operates
the Speedo North America business under a perpetual license between its Warnaco
Swimwear Inc. subsidiary and Speedo International Limited. A copy of this press
release is attached as Exhibit 99.2 to this report.
The transaction, which is expected to close in the first quarter of the
Company's fiscal 2020 year, is subject to customary closing conditions,
including regulatory approval.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
Exhibit Description
99.1 Press Release, dated January 9, 2020.
99.2 Press Release, dated January 9, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses